sync. gets approval from FCA

Wednesday 2 September 2020 11:21 CET | News

sync., the digital smart open banking app, has been given its own electronic money (e-money), Account Information and Payment Initiation Service Provider (AISP and PISP) licenses from the Financial Conduct Authority (FCA). 

The fintech hopes this will increase customer confidence and trust as it shows that sync. has passed the FCA’s due diligence assessment on all its procedures, including demonstrating compliance on fraud and anti-money-laundering policies. 

sync. launched in August 2020, aiming to help customers budget, manage and track their money in one place, offering a unique user experience as a money management platform with tailored insights. 

It does this by leveraging Open Banking, allowing users to connect all their debit and credit accounts, loans and mortgages alongside the sync. X card, powered by Mastercard. 

The app’s features will include creating and holding money in a GBP and/or EUR current account, opening 30+ currency accounts with immediate currency exchange, money transfers, debit card payments, and worldwide instant digital payments (peer-to-peer & QR code).

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Keywords: sync., FCA, fintech, Open Banking, personal finance management, app
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech

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